Online banking

Repayment tips

When considering taking out a loan the most important thing to consider is if you can afford to repay the loan and interest.

There are multiple costs to defaulting on a loan so it is much easier to be realistic about what you can borrow. To get you started here are some general tips to help you decide whether to borrow.

  • Only borrow the amount you need to.
  • Review your income and outgoings before agreeing the loan.
  • Look at the monthly repayments, the total amount repayable in addition to the interest rates (APR).
  • Keep the term of the loan as short as you can manage.
  • Check the small print of your loan. Are there early repayment penalties?
  • Keep ALL documentation about your loan close to hand.
  • Read your mail as important information about your loan will be mailed to you.
  • Keep copies of all correspondence between you and the lender.
  • If you have any problems making payments, get in touch with your lender immediately.
  • If you have any queries about your loan ask right away and make sure you are asking the right person.
  • Make sure you stick to the budget you have set yourself.

Contact us - We're here to help

Need a few questions answered? Want to chat rather than scroll? Our UK-based teams are here to talk to you six days a week. Lines are open Monday to Friday 8am-9pm and Saturday 9am-4pm.

Call 0345 600 6016* to speak to customer service.

* These numbers may be included as part of any inclusive call minutes provided by your phone operator.